Indian Oil has inked two LNG import deals with Emirati NOC ADNOC and French energy giant TotalEnergies, Reuters reported on Monday.
ADNOC LNG is set to deliver 1.2…
READ MOREOil reserves4.5 billion barrels
Oil production746,000 bopd
Gas reserves1.3 tcm
Gas production28.5 bcm
India’s oil and gas industry has long been a rising pillar in the country’s economic development. While India is a net importer of hydrocarbons, with the International Energy Agency forecasting dependence on oil imports to rise to 90% by 2040, E&P activities have grown considerably to match the country’s growing energy consumption. The government has made successful revisions of its policies and pricing to incentivise exploration, production and downstream activities, including early production royalty concessions and allowance of 100% FDI participation in many areas of the energy industry.
Most of India’s oil reserves are located in the west of the country, in particular in the western offshore region near Gujarat and Rajasthan. The Assam-Arakan basin in India’s northeast is also an important oil-bearing area. These regions contain mature fields where production is currently declining. EOR and redevelopment projects are underway to minimise production decline, with new technologies raising interest for investors looking to participate in brownfield projects. The country’s upstream sector is dominated by India’s NOC ONGC and its subsidiaries, with massive participation from local and foreign independents.
Outside of its upstream sector, India’s downstream sector has grown considerably to match raised production and petroleum imports. Local players Indian Oil Corporation, Bharat Petroleum Corporation and Reliance Industries have traditionally taken up more than 60% of the local refining market. LNG terminals have also grown around India’s coastline, with more penned for further development. The nation is also actively looking to increase its gas pipeline infrastructure to increase industrial development in regional areas and support economic equality between its states and union territories.
Bandar Al Qahtani of Kuwait Aromatics Company talks about trends in petrochemicals markets and Kuwait’s upgraded refineries.
READ MORETotalEnergies has expanded its LNG shipments to Asia with two new contracts.
READ MOREElham Mahfouz of the Commercial Bank of Kuwait talks about participating in Kuwait’s key oil and gas projects.
READ MORECanada's USD 24.7-billionTrans Mountain Expansion (TMX) oil pipeline has begun operations.
READ MORELarsen & Toubro has secured a major onshore gas pipeline project in the Middle East.
READ MOREAs India targets raising the share of gas in its energy mix, anticipated investment in gas pipelines in the northeast is USD 4.95 billion.
READ MOREVikas Handa, managing director of GulfTek (Gulf Technical Factory), talks to The Energy Year about the company’s strategy for gaining market share for its drilling…
READ MOREIndian Oil has inked two LNG import deals with Emirati NOC ADNOC and French energy giant TotalEnergies, Reuters reported on Monday.
ADNOC LNG is set to deliver 1.2…
READ MOREONGC has promised to achieve net-zero carbon emissions by 2038 through planned spending of USD 12.1 billion by 2030 on energy transition projects, the Indian NOC…
READ MORETotalEnergies has published a humanitarian report outlining an action plan to boost local aid and restart its USD 20-billion onshore LNG project in Mozambique, the…
READ MOREONGC has made two significant oil and gas discoveries on the MB-OSHP-2017/1 block off India’s west coast, the Indian NOC announced on Thursday.
The two…
READ MOREHamed Al Naamany, CEO of Oman LNG, talks to The Energy Year about the ongoing reshaping of the global LNG market and the company’s strategy for navigating it. Oman…
READ MOREFugro has been awarded a contract for offshore surveys in one of the UAE’s largest long-term field development programmes, the Dutch geotechnical entity announced on…
READ MORESteve Thomas, managing director of Africa Geophysical Services (AGS), talks to The Energy Year about variables affecting demand for seismic services in Oman, the…
READ MORENasser Al Maqbali, CEO of Minerals Development Oman (MDO), talks to The Energy Year about the future development of Oman’s mining sector, why the country is well…
READ MOREGhana has invited India to invest in making the country an oil and gas hub for Western Africa, Ghanaian Deputy Minister of Energy William Owuraku Aidoo said on…
READ MOREOPEC Secretary-General Haitham Al Ghais has announced a positive forecast for the global oil and gas industry on Monday at the India Energy Week in Bengaluru.
Al…
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